The WSJ recently published breakeven prices for various countries to balance their budgets:
Saudi Arabia $103
The Saudi's have significant cash reserves of over $750BB and can weather the storm for a while from an economic standpoint. However, countries like Russia, Iran, Iraq, Nigeria, Venezuela are already feeling the pain. Putin's latest adventurism in Syria is not just Putin supporting his old buddy Assad. It is a message to the Saudi's that we can further destabilize the situation in the Middle East if you wish to wage economic warfare against other OPEC members. Iran, Saudi's arch nemesis, is in the same boat as Russia when it comes to the Saudis. They are supporting the forces in Yemen waging war right on the Saudis doorstep. The Saudis might when the pricing battle near term, but they are facing the prospect of further destabilization all over the Middle East which is a very costly prospect for the Saudis.
Let the Liars in our government blame China and Europe as an excuse to keep our interest rates at 0%.... Meanwhile the oil will always flow and ETP will pay you 10% on your Dollar...!!!!
The numbers vary by writer and how they calculate the costs. Just today there an article suggesting the Saudis have "cut back" social spending TO $70/bbr. from more than $100.
Sovereigninvestor in 2014:
Prior to its $130 billion social-spending spree, Saudi Arabia needed oil prices somewhere north of $70 to balance the kingdom’s budget, according to the International Monetary Fund. Now the per-barrel cost is reportedly approaching $100. Russia needs something close to $120.
Whatever the real cost, they are under significant pressure
For the love of God and all that is holy, find and pay a financial professional to answer questions regarding you retirement, not a STUPID stock message board!
Why post something of consequence when you can post irrelevant speculative drivel, which is all you seem to do? Want to be taken seriously? Post some figures that support your thesis. If you can't do that, then #$%$.
The last q was a poor showing for ETP...I own a lot of this equity but I'm afraid its not over yet.
holding 1500 shares sold 500 at 41.05. Thanks for the profit up 6 k today.
I want my 500 back lower by one pt. sell me some please
Sentiment: Strong Buy
I've held this stock for years, and have added shares whenever it takes a dip. Now that the company has been raising its distribution, and picking off a competitor, for a $15 Billion dollar discount, I took this as a gift for this latest selloff. I believe buyers in here will be rewarded.
Agreed that it was a painful ride down and still not happy. But I have been disciplined in buying in at $3 intervals on the way down from $50. Yes, I'm in the negative column now, but my hope is that we've seen the worst and the dividend will remain untouched and this Williams deal will pay off long term. Don't need the money for 10 years, so that is my hope.
Interesting numbers you mention here... have not heard that social program cost before. Do you remember where to read up on this?
Econ1216- the motley fool site has a short basic primer untitled "How to value and MLP". You should check it out.
yes, paid with funds from your account. And yes different brokers handle it differently. I don't think its an issue that's high on the IRS list for scrutiny for the average investor.